blog.gov.jeBusiness Risk Assessments are the foundation of any Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) strategy.
Author: George Pearmain
Combatting Financial Crime Together: Risk – summary of event held on 28 Sept 2022
Risky (virtual asset) business?
To its supporters cryptocurrency (or virtual assets, aka VAs) is a brave new world, a digital asset that exists across computer networks, outside the control of governments and central authorities, bringing cheaper and faster money transfers for those otherwise excluded from the financial system. To its detractors it is a bubble waiting to burst, or … Read more Risky (virtual asset) business?
Protecting non-profit organisations from criminals and terrorists
While the NPO sector presents medium to low risk of being abused or misused for terrorist financing, the law has been updated with the aim of protecting them from the risk.
Russian sanctions: can you sanction Crypto?
Sanctions imposed by the UK and Jersey against entities and individuals in Russia and Belarus apply to cryptoassets (see the OFSI, FCA and Bank of England Joint statement ). Which leads to the question: When is an asset a cryptoasset? The simple answer – which may not help a great deal – is that there … Read more Russian sanctions: can you sanction Crypto?
Russian sanctions: the impact so far
The economic measures imposed on Russia following the invasion of Ukraine last month are already the largest package of sanctions ever imposed against a G20 nation, and there are more to come. Before the invasion, more than 250 Russian individuals and entities were designated for an asset freeze. In the week afterwards, a little over … Read more Russian sanctions: the impact so far
Increase Your (Financial) Intelligence
How do you catch criminals? More exactly, how do you catch people using the financial system to shift, grow and conceal criminal assets? First, you have to know what they’re doing. A proposal lodged this week will, if approved by the States of Jersey (the Island’s Parliament), boost our ability to track those trying to … Read more Increase Your (Financial) Intelligence